Answer:
[tex]Down\ payment = 7,344[/tex]
Step-by-step explanation:
Let x be the amount of 15% of gross income.
Given:
Jessica gross income = 48,960.00
She decided to use 15% amount as down payment.
We need to find the amount of 15% of gross income.
Solution:
Using percentage formula.
[tex]percentage = (\frac{Value}{Total\ value})\times 100[/tex]
Now we substitute 15 in the place of percentage and 48,960 in the place of Total value.
[tex]15=(\frac{x}{48960})\times 100[/tex]
Now, we apply cross multiplication rule.
[tex]x= \frac{48960\times 15}{100}[/tex]
[tex]x=48960\times 0.15[/tex]
[tex]x =7,344[/tex]
Therefore: Down payment is 7,344.
